Daily analysis of Silver for January 12, 2018

Recent trades with silver are confined within a bullish flag pattern that appears on the chart. This means that breaching 17.15 will activate the positive effect of this pattern and push the price to continue the main bullish trend. Therefore, we believe that the chances are valid to rise even higher in the upcoming sessions. We are waiting until a breach of 17.43 confirms that the price is in the way towards 18.30 in the near term. Let me reminding you that it is important to hold above 16.55, so that the price hits our suggested targets. The expected trading range for today is between 16.95 support and 17.30 resistance.